屹通新材(300930) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was CNY 339,338,815.92, representing an increase of 11.07% compared to CNY 305,515,551.08 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 63,691,395.36, up 7.77% from CNY 59,100,457.42 in 2019[18]. - The company's total assets at the end of 2020 were CNY 398,130,724.12, a 4.53% increase from CNY 380,883,146.21 at the end of 2019[18]. - The basic earnings per share for 2020 was CNY 0.85, reflecting a 7.59% increase from CNY 0.79 in 2019[18]. - The company's cash and cash equivalents decreased by 47.24% in 2020 compared to 2019 due to repayment of bank loans[47]. - The company's financial performance indicates a stable growth trajectory, supporting its dividend distribution strategy[126]. Dividend Distribution - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total share capital of 100 million shares[5]. - The cash dividend represents 15.70% of the net profit attributable to ordinary shareholders, which is 63,691,395.36 yuan for the year 2020[128]. - The total distributable profit available for shareholders is 57,322,255.82 yuan, with a cumulative distributable profit of 123,136,035.48 yuan as of December 31, 2020[127]. - The company has maintained a consistent dividend policy, with a minimum cash dividend ratio of 20% during its growth phase[126]. - The company plans to distribute cash dividends of 1.00 CNY per 10 shares, totaling 10 million CNY, while retaining undistributed profits for future allocation[123]. Research and Development - The company has increased its R&D investment, emphasizing technological innovation to enhance core competitiveness[42]. - The company has established a strong R&D team with 36 technical personnel, including 2 PhDs and 3 senior engineers, to drive innovation[52]. - The company invested in 3 new R&D projects and completed 6 projects, successfully applying for 1 provincial-level new product[65]. - The company’s R&D expenses for 2020 were ¥12,062,756.44, an increase of 11.85% from ¥10,784,806.27 in 2019[88]. - The company has invested in research for new metal powder applications, including magnetic powders and 3D printing, to enhance its technological capabilities[39]. Market Position and Strategy - The company has established partnerships with major players in the metal powder industry, enhancing its market position[10]. - The company is focusing on expanding its market presence and developing new technologies in powder metallurgy[11]. - The company has established long-term partnerships with major clients such as Dongmu Co., Ltd. and Wuxi Hengteli Metal Products Co., Ltd., enhancing its risk resistance capabilities[56]. - The company is focused on maintaining compliance with regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[133]. - The company plans to diversify its product line, moving into high-performance pure iron powder and expanding into metal soft magnetic materials and copper-based powders[106]. Risk Management - The company emphasizes the importance of risk awareness in its future business outlook, highlighting potential challenges[5]. - The company faces risks from market demand fluctuations, particularly in sectors like transportation and home appliances, which are sensitive to economic conditions[115]. - The company is exposed to raw material price volatility, as its product prices are linked to the market prices of scrap steel[116]. - The company recognizes innovation risks due to the evolving requirements in the metal powder industry, which may affect its product competitiveness[118]. Corporate Governance - The company maintains a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and management team to protect shareholder rights, especially for minority shareholders[163]. - The company has committed to strictly fulfilling the promises disclosed in the prospectus, with any unfulfilled commitments leading to public explanations and apologies to shareholders[134]. - The management team, including directors and supervisors, will also be held accountable for fulfilling their commitments as stated in the prospectus[134]. - The company has established a lock-up period for shares held by its executives and major shareholders[132]. Environmental and Social Responsibility - The company emphasizes environmental protection and adheres to national laws, with no penalties for violations reported during the reporting period[171]. - The company actively engages in social responsibility initiatives, supporting education and disaster relief efforts, particularly during the pandemic[169].